Hong Kong Shanghai Banking Corporation’s (HSBC) asset management division is on the verge of appointing TBWA to handle its global advertising account.
TBWA managing director Jonathan Hoare says: “I cannot comment except to say we are talking to them.” However, it is believed that the only stumbling block to TBWA’s appointment is the size of the budget.
Sources suggest TBWA has to persuade the client to spend enough to make worldwide advertising credible. This would involve a multimillion dollar budget.
TBWA finally pitched against Ogilvy & Mather after HSBC initially approached a number of London agencies.
The agency will be expected to create an advertising campaign capable of running across the US, the Far East, Australia and the UK.
HSBC Asset Management handles portfolios of equities and investments for corporate clients, such as pension funds and charities. It also has a retail division which operates mainly outside the UK and manages savings and investments for individual customers.